Philippines raids online scam center, arrests over 100 suspects, exposing usury extortion details.

Philippine law enforcement agencies raided a company suspected of online fraud in the Makati financial district of Manila on Friday, arresting about 100 suspects involved in extorting victims through high-interest loans.

The operation was jointly conducted by the Presidential Anti-Organized Crime Commission (PAOCC) and the National Bureau of Investigation. Agents armed with weapons surrounded two offices of a lending institution and arrested two suspects operating computers on the spot.

Fraud pattern exposed: Using TikTok to lure victims, illegal high-interest loan extortion

Most of the suspects are young Filipinos who use TikTok and social media to target victims, offering unsecured loans up to 25,000 pesos (about $428).

Victims need to pay up to 35% interest weekly, and if they fail to repay on time, they will be harassed by phone calls, have their personal information publicly disclosed, and even receive death threats.

Some victims have developed psychological issues due to long-term harassment and intimidation, and some have even become depressed and committed suicide.

The scam group uses heinous tactics, threatening the victims' families

The scam center, operated by Wewill Tech Corp., requires victims to provide personal information and family photos, then uses these details to intimidate the victims and their relatives.

Some victims even receive coffins and funeral wreaths to deepen their fear and force repayment.

The masterminds behind the scenes are suspected to be remnants of criminal groups left over after the Philippine government cracked down on online gambling (POGO) last year.

The Philippine government is cracking down hard, and the scam gang may be related to Chinese criminal organizations

PAOCC Director Gilberto Cruz stated that these scam gangs are mainly operated by Filipinos, communicating with victims in the local language, but the masterminds behind the scenes are still under investigation.

"The saddest part is that Filipinos are deceiving and hurting their own people."

The United Nations Office on Drugs and Crime (UNODC) previously identified Southeast Asia as the "ground zero" for global scam activities, and authorities believe that these scam groups may be backed by Chinese criminal organizations.

Suspects may face multiple criminal charges

Under the Philippine Cybercrime Law, these scammers may face charges of fraud, illegal high-interest loans, intimidation, etc., and authorities are further investigating their financial chains and organizational structures.

This raid operation has revealed the complexity and rampant nature of Philippine online scam groups, and more extensive crackdowns are expected to follow.